EXPLAINER: How cryptocurrency fits into infrastructure bill
August 11, 2021
WASHINGTON (AP) — What does Bitcoin have to do with roads and bridges?
A lot right now in the U.S. Congress. One way lawmakers propose to pay for the $1 trillion infrastructure bill the Senate approved Tuesday is by imposing tax-reporting requirements for cryptocurrency brokers, the way stockbrokers report their customers' sales to the IRS. It could open the way for tighter regulation of cryptocurrency — something the Biden administration is moving toward as it also pushes for tax compliance.
The plan could raise about $28 billion in revenue over 10 years, congressional accountants esti...